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Tenet Healthcare (THC) Suffers a Larger Drop Than the General Market: Key Insights
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The most recent trading session ended with Tenet Healthcare (THC - Free Report) standing at $131.75, reflecting a -1.26% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.78%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.7%.
The the stock of hospital operator has fallen by 2.97% in the past month, lagging the Medical sector's gain of 2.23% and the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024. On that day, Tenet Healthcare is projected to report earnings of $1.84 per share, which would represent year-over-year growth of 27.78%. At the same time, our most recent consensus estimate is projecting a revenue of $4.98 billion, reflecting a 2.03% fall from the equivalent quarter last year.
THC's full-year Zacks Consensus Estimates are calling for earnings of $8.70 per share and revenue of $20.35 billion. These results would represent year-over-year changes of +24.64% and -0.95%, respectively.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.76% higher. Tenet Healthcare presently features a Zacks Rank of #2 (Buy).
Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 15.33. This valuation marks a discount compared to its industry's average Forward P/E of 15.37.
Also, we should mention that THC has a PEG ratio of 1.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - Hospital industry stood at 1.35 at the close of the market yesterday.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.
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Tenet Healthcare (THC) Suffers a Larger Drop Than the General Market: Key Insights
The most recent trading session ended with Tenet Healthcare (THC - Free Report) standing at $131.75, reflecting a -1.26% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily loss of 0.78%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 0.7%.
The the stock of hospital operator has fallen by 2.97% in the past month, lagging the Medical sector's gain of 2.23% and the S&P 500's gain of 2.14%.
Analysts and investors alike will be keeping a close eye on the performance of Tenet Healthcare in its upcoming earnings disclosure. The company's earnings report is set to go public on July 24, 2024. On that day, Tenet Healthcare is projected to report earnings of $1.84 per share, which would represent year-over-year growth of 27.78%. At the same time, our most recent consensus estimate is projecting a revenue of $4.98 billion, reflecting a 2.03% fall from the equivalent quarter last year.
THC's full-year Zacks Consensus Estimates are calling for earnings of $8.70 per share and revenue of $20.35 billion. These results would represent year-over-year changes of +24.64% and -0.95%, respectively.
It is also important to note the recent changes to analyst estimates for Tenet Healthcare. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.76% higher. Tenet Healthcare presently features a Zacks Rank of #2 (Buy).
Investors should also note Tenet Healthcare's current valuation metrics, including its Forward P/E ratio of 15.33. This valuation marks a discount compared to its industry's average Forward P/E of 15.37.
Also, we should mention that THC has a PEG ratio of 1.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Medical - Hospital industry stood at 1.35 at the close of the market yesterday.
The Medical - Hospital industry is part of the Medical sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow THC in the coming trading sessions, be sure to utilize Zacks.com.